Radio play royalties usually go to the songwriter and to the record company - with only a small portion going to the performer. Essentially, the record co collect the money. First dibs (usually 50%) goes to the song writer. Then there are deductions for the record co's admin fees, then charges for promotion/production, overheads for collection of payment, copyright fees, etc. Usually a few cents are left for the performer.
In the UK, typical songwriter royalty payments for a 3min track are about £25 ($40) for a local radio station, up to about £250 ($400) for a track played on primetime national TV.